Brixton Pound has pioneered new payment options for local traders. When the Brixton Pound launched their pay-by-text system, the added convenience prompted Alicia Reynolds – a Senior HR Officer at Lambeth Council – to request part of her salary in her local currency.
In her words:
“It saves me a trip to the bank. Sometimes I’ll go shopping, and then remember I don’t have any cash on me, but then I realise, I’ve got my Brixton Pounds. Paying by text means you don’t have to queue up and wait for change.”
The success of pay-by-text spurred on a further advancement in 2014 – the introduction of ‘tap and pay’ technology with a corresponding app. The new system uses near-field communication (NFC) technology, which allows smartphones and similar devices to make radio communication with each other by touching them together or bringing them into proximity.
Evaluation of the Brixton Pound highlights the potential of community currencies to impact behaviour and affect attitudes. Of those using the currency, 70% reported that they had got to know local business owners better as a result, 55% that it had made shopping more convenient, 88% that it was good to be spending in a way that supported local values, and 82% that it had reinforced their pride in Brixton.